I don't care who thought it up. The sequester was a bad idea. The obsession with debt instead of joblessness that led to the sequester was foolishness of a high order.
Unless the Congress comes to its senses, the damage that is being done will persist.
The only good thing we can say is that the US isn't acting as foolishly as Europe.
Paul Krugman explains. He shouldn't have to.
For at least four years, the U.S. political class has failed in economic leadership. In steering the ship of state, they persist in putting the rudder over in the wrong direction.
The problem is jobs, not debt.
At least the United States hasn't entered another dip in the recession.
Yet.
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